Our website uses cookies to improve your user experience. If you continue browsing, we assume that you consent to our use of cookies. More information can be found in our Cookies Policy and Privacy Policy.

Recommended

HMRC has decided to withdraw 6,000 of its controversial notices that require tax penalties to be paid upfront, the Financial Times reports. Accelerated payment notices were introduced in 2014 as part of a crackdown on tax avoidance and give recipients 90 days to settle up. They allow HMRC to collect money from people it deems […]

HM Revenue and Customs has taken down its online tax calculator which had displayed wrong information about the amount of money that could be put into pensions. Royal London flagged the faulty tax calculator earlier this week, noting stories from one customer who has been led to believe he was limited to £10,000 in pension contributions […]

Former pensions minister Steve Webb has urged HM Revenue and Customs to take down a web page which gives users the wrong information about how much money they can put into pensions. Royal London spotted the blunders on the website and raised the issue with HMRC on Monday 16 April but the information remained in […]

James Hay grew its assets under administration by 15 per cent to £25.5bn in 2017, as net inflows also increased. James Hay parent IFG Group released its full-year results today, reporting net inflows at James Hay of £3.4bn, which was an increase on the 2016 result of £2.6bn. Overall, the group posted a £400,000 loss for […]

Employees at Johnson Fleming, in Bromsgrove, Worcestershire, are looking forward to trying out some dramatic new hairstyles on Wig Wednesday. A host of colourful wigs will brighten up the office on 20 May as staff support children and young people with cancer.

Newsletter

Latest from Money Marketing

You have to do hard things to be successful in life. The things no one else does. Why? Life coaches will tell you those are the things that define you; the things that make the difference between existing and living. This may well be true but if that does not float your boat, then American […]

Only a quarter of women are shopping around for their retirement income, according to national IFA LEBC. Customers of LEBC pension advice business The Retirement Adviser are far more likely to use its whole of market service to find the best retirement income solution if they are male. LEBC says the proportion of women using […]

A weekly account of the curious goings-on in the world of financial services A game of Brexit MonopolyLast week, in a foreign policy speech, Theresa May said Brexit negotiations were in their “endgame”. WSJ thinks this is highly unlikely, having heard that not even a quarter of European law has been rolled over yet. Wingate […]

19th November 20182:58 pm

Comments

There are 6 comments at the moment, we would love to hear your opinion too.

“HRMC hasn’t specified, however, if a tax avoidance enabler would be an adviser who encourages clients to put money in a pension or an Isa.” I’m sorry I had to check this article was dated 1st May not 1st April…. If they don’t clarify this immediately I’m packing up financial services and going to retrain as a plumber…

Tax avoidance used to be legal.
Tax evasion has always been illegal.
Tax avoidance is now possible but only when it complies with law, and does not go against the spirit of what our legislators intended.
So it is OK unless HMRC says it is not….
Clear!

John Hutton-Attenborough and others.
Yes it is perfectly clear if you bring your thinking up to date and stop thinking of tax avoidance in 20th century definitions (I’m surprised no-one has mentioned a certain 1930s court judgement by now!)
HMRC has redefined tax avoidance – see the following link:https://www.gov.uk/guidance/tax-avoidance-an-introduction
The use of ISAs, pensions, etc. now constitute tax planning, as they use clearly laid-down tax reliefs and allowances in the manner in which Parliament intended.
As advisers we are supposed to keep our knowledge current on issues like this after all!